Nespak wins projects worth Rs546b

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Economic Updates - Pak Major Financial News

LAHORE – Water and Power Minister Syed Naveed Qamar has said that the government is making efforts to decrease the loadshedding duration and the installation of various power plants of 3,000MW capacity during last three years is a proof of the government s struggle for generation electricity to meet the crisis.
While talking to the reporters at Nespak office here on Monday, the Power Minister further said the Pepco s devolution process would be completed in October. He said that the government was striving hard to maintain the power tariff balanced.
The work on various power generation projects were underway, he added.
During his visit to the Nespak House the Managing Director Asad I. A. Khan welcomed him and gave him a detailed presentation on the performance of the Company. Pepco MD Rasool Khan, LESCO CEO Saleem Akhtar and Nespak Vice Presidents were also present.
In his presentation, Asad Khan stated that during the last financial year 2010-2011, Nespak secured 110 new engineering projects in Pakistan and six from other countries through a tough international competition. Total cost of the newly-secured projects, he stated, was Rs 546 billion. The new foreign projects secured by Nespak were located in Saudi Arabia, Oman, Qatar, Afghanistan, Yemen and Ethiopia, he added.
He told the Minister that with the acquisition of 110 projects during the last year, Nespak had set another new record over the past year (2009-2010), when the Company had secured 101 projects costing an aggregate of Rs 209 billion.
The important new projects secured by Nespak, according to the MD, included Iran-Pakistan Gas Pipeline Project; Restoration for Flood Damages 2010 all over Pakistan; 747MW Combined Cycle Power Plant Guddu, Bara Multipurpose Dam Project; Flyover at Kalma Chowk, Lahore; Ashiana Housing Scheme Lahore and Sheikh Zayed Medial Complex (Phase-II), Rahim Yar Khan. While the new foreign projects included Storm Water Drainage Project; Riyadh and Wadi Dawasir Plants in Saudi Arabia; Al-Saleef Port Silos in Yemen; Seven Schools Project and Traffic Police Complex in Qatar and Irrigation and Drainage Projects in Ethiopia.
As per statement, the Minister expressed his satisfaction to know that Nespak had exported engineering services to 36 countries of the world and it considerably reduced dependence on foreign consultants besides earning handsome foreign exchange. Naveed Qamar appreciated the high quality services of the professionals and paid tribute to its management for keeping flag high of Pakistan in 36 countries.

 

 

Courtesy: Nation


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